February 12, 2013 16:43 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 12, 2013) - Patrone Gold Corp. (TSX VENTURE:AUR) (the "Company") is pleased to announce that on February 8, 2013 the TSX Venture Exchange accepted for filing an option agreement with an arm's length vendor, by which the Company can earn a 100% interest in the McLennan Lake Property, located in the northeastern extent of the La Ronge Gold Belt. Historic exploration activities have focused on the investigation of surface showings in the southwestern part of the property, by sampling, stripping, and trenching. All programs identified low-grade gold values of up to 3000ppb, with anomalous copper values over 3% at Asbell Bay. To date, the property has only been tested by a single drill hole.
Patrone can earn a 100% interest in the McLennan Lake Project by paying the vendor $10,000 cash and issuing 1,000,000 common shares within 5 days of regulatory approval and making additional payments totaling $500,000 cash over 42 months, and spending $3,000,000 in exploration expenditures within four years. A 1% NSR has been granted to the vendor, which can be purchased for $1,500,000 less all amounts previously received by Owner as NSR payments. No new insiders or control persons were created through this acquisition.
On Behalf of the Board of Directors of Patrone Gold Corp.
Anita Algie, B.Sc. Hon, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Patrone Gold Corp.604-681-0004www.patronegoldcorp.com
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